Summit Ridge Vitality and MUFG have expanded their current partnership with the shut of a $275 million financing spherical.
The 2 new debt services from MUFG will help the development of as much as 15 photo voltaic tasks in Illinois, including 45 MW DC to an current fleet of over 250 MW DC throughout the state. The services may even help building and everlasting financing of as much as 15 photo voltaic tasks in Virginia, positioning Summit Ridge Vitality with 75 MW DC deliberate for building within the state subsequent 12 months. Collectively these tasks intention to offer invoice credit to about 13,000 houses and companies.
“We’re happy to double-down on our partnership with MUFG, who we see as one of many premier monetary establishments working on this house, particularly on this difficult debt market,” says Brian Dunn, Summit Ridge Vitality’s COO. “We all know we are able to rely on MUFG’s means to scale with our important and rising pipeline.”
“MUFG is proud to broaden our partnership with Summit Ridge Vitality, the main participant within the North American industrial photo voltaic market,” provides MUFG’s Takaki Sakai. “We have been impressed with Summit Ridge Vitality’s functionality to develop aggressive and well-structured tasks. We’re excited that Summit Ridge Vitality is aiming to play an extra function on this discipline by scaling up the enterprise and sit up for persevering with to help its progress.”
The upsize will increase the earlier $100 million partnership between Summit Ridge Vitality and MUFG and creates extra alternatives for job progress and financial improvement in each states.
